Results 12,381-12,400 of 33,214 for speaker:Paschal Donohoe

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: Considerable protections are in place and have played a role in over 80,000 mortgages being restructured. They have played a role in over 80% of those who are involved in those restructured mortgages and who are meeting new loan terms. For those whose loans have been sold, the protections they have now are unaffected. That said, if we are at the point where a property is being sold, then...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I can understand why the Deputy is raising this issue on behalf of his constituents. As I understand it, he wants me to reply with answers to those questions. Is that right?

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I understand. Some of those matters were raised with us by the Alliance for Insurance Reform, and I dealt with those issues with the alliance. Subsequently, I wrote to the insurance sector asking for a response to particular issues that were raised with me, some of which were touched on in the communications the Deputy has just mentioned. If he gives those communications to me, I will see...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: As the Deputy will know, decisions on the taxation of aviation fuel are made at an international and a European level; they are not a competence we have here in Ireland. I would, however, be cautious about this. Looking at where we are at the moment, when it is possible on public health grounds to allow aviation - business travel and then tourism travel - to happen, and we will be guided by...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I will have to write back to the Deputy on many of the points he raised because we have run out of time. I will, however, comment on the one matter he said might be outside my responsibility, Skellig Michael. I had the opportunity to visit it at the end of last year so I know how amazing the location is. As somebody who just about got to the top, I can see, in fairness, why the OPW made...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: It is about to be discovered.

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: The Deputy raised issues around the banks with me a number of weeks ago and I met the CEOs of the banks again, along with the Taoiseach, a number of days ago. I want to re-emphasise to the Deputy that it is critical that a number of things happen during this period. First, if breaks are being entered into, as they are for over 40,000 loan owners, everybody must be clear on what that break...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: Respectfully, I am not in a position to give the commitment the Deputy wants to changing primary legislation. I will have to see what he is looking for first and I am sure he will share that with me. I believe that the legislation we have in place regarding how our credit union sector is regulated is very proportionate and fair. On the comment he made about the culture of the Central...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I thought it might be something different.

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I thank Deputy Naughten for raising those points. The Deputy has acknowledged the work under way on the maternity leave issue that has arisen due to the implementation of the wage subsidy scheme. I am examining if we can resolve that. As I said to Deputy Catherine Murphy, my preference is to address this through the administration of tax law rather than having to look at other policies...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I have had two meetings in recent weeks with representatives and leaders of the different credit union movements. I found these very helpful and I plan to have another meeting in the coming week or two. I heard from them some of the concerns raised by Deputy Naughten. The Deputy will appreciate that some of the issues they refer to are regulatory matters on which I am not the decision...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I am saying that over time, we will not be able to continue the level of borrowing that we have. What the Deputy will therefore want is for taxes to be increased by that amount and I would contend that such a tax increase will have other effects in our economy that I think it is in our interest to avoid.

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I thank the Deputy. I will speak about the role of the State in respect of an issue such as this. I also want to appreciate the huge amount of stress that has been caused to all who worked in Debenhams by the decision that has been made and how understandably angry and upset those workers will be at the very sudden loss of their jobs. It is, however, the case that we cannot intervene...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: In regard to the first part of the Deputy's question, Project Ireland 2040 currently has a budget and an implementation board that is chaired by the Secretary General of the Department of Public Expenditure and Reform and the Secretary General of the Department of Housing, Planning and Local Government. They are considering, insofar as they can, what are the consequences of Covid-19 for...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I thank the Deputy for those questions. I will deal with the maternity leave issue. I explained earlier that I am considering options to see whether we can resolve this matter because the legislation as drafted was absolutely seeking to treat everybody equally in a time of great need. In all of the different issues now being raised regarding the operation of the scheme, please let us also...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: That is a very good question. The European Commission is a number of weeks away from presenting proposals to the European Council or to finance ministers on this topic. Obviously there is a lot of merit for us if the GNI approach is used because in many ways that offers a more accurate picture of how our economy is actually performing. However, because a paper has not been tabled and we...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: There have been discussions about the budgetary rules, and the escape clause of the Stability and Growth Pact has now been triggered. My expectation is that almost all, if not all, countries will be in a position whereby their deficits are considerably above what would be expected in normal times under the terms of the Stability and Growth Pact. There has not yet been a discussion regarding...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: The issue raised by the Deputy was put to me in the course of considering how we will deal with this matter. If we cannot find another way of dealing with it, my preference is for it to be dealt with as a tax policy or administration matter. Changes in other areas of policy, such as the length of maternity leave, may cause other issues that would need to be considered. This is an important...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: I am not currently considering such issues. Various issues have been raised. Many have been addressed through the wage subsidy scheme and I have dealt with many of them in the House in recent weeks. The issue of workers with underlying health conditions having to return to work has not developed in the way the Deputy may have feared. If she has evidence to the contrary, I ask her to send...

Covid-19 (Finance): Statements (20 May 2020)

Paschal Donohoe: Lots of it does, but we are in a very different place from where we were a decade ago. Regarding the engagement I and the Government have had on this issue, Deputy Howlin might be aware that some weeks ago the Taoiseach and I signed a letter and an article supporting a recovery fund. I did that because, while nearly all of the time I am very much aligned with my Dutch colleagues, for...